Unearned premium revenue is a liability account that is used by an insurer to record that portion of premiums received from customers that it has not yet earned. For example, an insurer receives a $1,200 payment from a customer that is intended to provide insurance coverage for the next year. The entire amount of this payment is initially recorded in the unearned premium revenue account, with a debit offset to the cash account. In each subsequent month, the insurer shifts $100 of the liability to the revenue account by debiting the unearned premium revenue account and crediting the revenue account.